Intel posted better-than-expected results with revenues of $13.28 billion in the third quarter. The company forecasts revenue growth in the fourth quarter to $13.3-14.3 billion.

Intel beats revenue expectations in earnings report – one of the largest PC chip makers predicts fourth-quarter revenue above previous estimates.

Writes UNN with reference to the WSJ and Yahoo! Finance.

Intel shares rose by about 9% in post-market trading after quarterly revenue, although down year-on-year, was slightly better than expected.

For the quarter, Intel posted a loss per share of $0.46 on revenue of $13.28 billion. Analysts had expected a loss per share of $0.03 on revenue of $13 billion.

Intel said it expects fourth-quarter revenue of $13.3 billion to $14.3 billion. Wall Street was expecting $13.6 billion. The company also said it has two new customers for the 18A processor.

For reference

The Intel Foundry business, which is responsible for manufacturing chips for Intel and third-party customers, generated revenue of $4.35 billion. Wall Street was expecting $4.4 billion. The division's revenue in the third quarter of 2023 amounted to $4.7 billion.

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